New Mexico Educational Retirement Board Sells 700 Shares of Discovery Communications Inc. (NASDAQ:DISCA)

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New Mexico Educational Retirement Board trimmed its position in Discovery Communications Inc. (NASDAQ:DISCA) by 5.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,200 shares of the company’s stock after selling 700 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Discovery Communications were worth $325,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. CSat Investment Advisory L.P. increased its holdings in shares of Discovery Communications by 89.5% in the second quarter. CSat Investment Advisory L.P. now owns 902 shares of the company’s stock worth $28,000 after purchasing an additional 426 shares during the last quarter. Redhawk Wealth Advisors Inc. bought a new stake in shares of Discovery Communications in the second quarter worth about $30,000. Parkside Financial Bank & Trust increased its stake in Discovery Communications by 131.8% during the second quarter. Parkside Financial Bank & Trust now owns 1,013 shares of the company’s stock worth $31,000 after acquiring an additional 576 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in Discovery Communications by 558.7% during the third quarter. Steward Partners Investment Advisory LLC now owns 1,133 shares of the company’s stock worth $30,000 after acquiring an additional 961 shares during the last quarter. Finally, Duncker Streett & Co. Inc. bought a new stake in Discovery Communications during the second quarter worth approximately $37,000. 35.39% of the stock is currently owned by hedge funds and other institutional investors.

In other Discovery Communications news, insider Bruce Campbell sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $33.01, for a total transaction of $825,250.00. Following the completion of the transaction, the insider now owns 364,219 shares in the company, valued at $12,022,869.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John C. Malone bought 2,670,000 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were acquired at an average price of $28.03 per share, with a total value of $74,840,100.00. Following the transaction, the director now directly owns 10,317,937 shares of the company’s stock, valued at $289,211,774.11. The disclosure for this purchase can be found here. Insiders have sold 70,570 shares of company stock valued at $2,292,705 in the last 90 days. Company insiders own 4.43% of the company’s stock.

DISCA has been the topic of several analyst reports. Barrington Research reissued a “buy” rating and set a $40.00 price objective on shares of Discovery Communications in a research note on Thursday, November 7th. Wells Fargo & Co initiated coverage on Discovery Communications in a research note on Monday, September 23rd. They set an “outperform” rating and a $35.00 price objective on the stock. Imperial Capital raised Discovery Communications from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $29.00 to $34.00 in a research note on Tuesday, October 22nd. Rosenblatt Securities boosted their price objective on Discovery Communications from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note on Sunday, November 10th. Finally, ValuEngine cut Discovery Communications from a “hold” rating to a “sell” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Discovery Communications currently has a consensus rating of “Hold” and a consensus price target of $33.88.

Shares of NASDAQ DISCA opened at $32.74 on Tuesday. The business’s 50 day moving average is $29.63 and its two-hundred day moving average is $28.98. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.52 and a quick ratio of 1.52. Discovery Communications Inc. has a 1-year low of $23.79 and a 1-year high of $33.65. The stock has a market capitalization of $17.30 billion, a P/E ratio of 15.52, a PEG ratio of 0.51 and a beta of 1.62.

Discovery Communications (NASDAQ:DISCA) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.05. Discovery Communications had a return on equity of 23.29% and a net margin of 16.81%. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the previous year, the firm posted $0.79 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts anticipate that Discovery Communications Inc. will post 3.67 earnings per share for the current fiscal year.

Discovery Communications Profile

Discovery, Inc operates as a media company worldwide. The company operates through two segments, U.S. Networks and International Networks. The company owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, MotorTrend, Food Network, HGTV, Travel Channel, TVN, DIY Network, Cooking Channel, Discovery Family Channel, American Heroes Channel, Destination America, Discovery Life, Discovery en Espanol, Discovery Familia, Great American Country, the Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.

Further Reading: Buy Rating

Institutional Ownership by Quarter for Discovery Communications (NASDAQ:DISCA)

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